Lenoia is the owner of a natural monopoly that generates electricity for a small mountain town. The demand for electricity in Lenoia and its total production cost are displayed in the table. The maximize profit is 4 megawatts
If one company can serve a market more affordably than any combination of two or more enterprises, then that market has a natural monopoly. When there is just one company that is the most productive in an industry, a natural monopoly results. It is unfeasible to have more than one company manufacturing the item under a natural monopoly since fixed costs are usually quite high. Tap water is an illustration of a natural monopoly. A market structure known as a natural monopoly occurs when there is just one company offering consumers a certain good or service.
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